Stock futures are shrinking as Wall Street seems to rebound as it loses the week

U.S. stock futures fell slightly on Sunday evening as Wall Street tried to recover in a losing week.

Futures contracts linked to the Dow Jones Industrial Average fell 78 points, or 0.2%. The S&P 500 and Nasdaq 100 lost 0.3% and 0.4%, respectively.

The movement of futures comes after the loss of ground of the three main indices last week. The Dow and S&P 500 fell 0.5% and 0.8%, respectively, on Friday to end the week, breaking two-week winning streaks. The Nasdaq Composite rose on Friday, but ended the week with a 0.8% loss.

Stock struggles occurred as bond yields jumped again last week, putting pressure on technology and growth stocks that caused the market to go back on sale since the pandemic last year. On Sunday, futures on the 10-year Treasury bill price rose, indicating lower yields.

Even with last week’s weakness, the S&P 500 and Dow are still near record highs and the Nasdaq isn’t too far behind. Darrell Cronk, investment director at Wells Fargo’s Wealth Fargo and Investment Management, said the stock market still seemed to be on track for a multi-year rise.

“If you got off the list and started putting check-check boxes, you’ll check this in a vacuum … and you’d say it looks like an early recovery cycle that is about a year ago and probably has a number of years still to run.” , Cronk said.

Optimism about the markets and the path of the U.S. economy has been growing as vaccines are being rolled out across the country, with the pace of Americans receiving shots in recent weeks. However, several states are seeing an increase in Covid-19 cases.

Over the weekend, the industrial sector produced important corporate news. Canadian Pacific Railway announced it would buy Kansas City Southern in a $ 25 billion deal, creating a rail giant that connects Canada, the United States and Mexico.

In terms of economic data, investors will be able to see the real estate market on Monday when the National Association of Realtors publishes sales of existing homes for February. Economists surveyed by Dow Jones predict a decline of 2.8%.